The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-04-13
THE RIGHT KIND on BOON
Is A MANUFACTURING BOOM
THAT BRINGS PEOPLE.
The Midland Railroad Will Induce
Manufactures and Therefore
Bethe Means OF a Boom.
To tho Editors of the Annual.

l ~ oaA Ih0khlOhl ~ OultIDIlb6 nas
ever been inaugursted in which the
people OF Me nphis and Shelby coun.
ty are more interested than that OF the
tennessee Midland Railway Company.
As dealers in real estate we are deeply
interested in any subject which has
q tendency 10 al, ct the value in
landed property. Believing as we do
thai the construction of this road will
add greatly to the growth OF Memphis,
and lavorably affect the value of land
throughout the county, we take the
liberty through the medium Of the
press of calling the attention OF the
public to the reasons which control us
in coming to this conclusion and the
necessity OF doing something to en-
courage the enterprise. The Hon. ].
W. Clspp, in a speech delivered before
the Merchants Exchange ON last Sat
urday, took occasion to give eur peo-
pie some vice counsel, IL they will
only heed it. when he eaid that Mem.
phis would never become a
great city until che became a
manufacturing city. Commerce, the
mere interchange of values and
commodities, may produce q few
wealthy and prosperous merchants,
but it will eve make a prosperous
city. To do this requires diversified
industries, which produce the neces-
sity for homes in which the industrial
classes may live. One manufacturing
establishment creates more necessity
for lands and houses than ten more
trading establishments. What Mem
phis needs above all things is the de-
velopment and prosecution Of indus
trial enterprises. When we combine
manufactures with commerce city
property, as we'll as the productive
lands OF the county, will be in demand.
The people engaged in Industrial pur-
suits will require homes and will draw
their supplies from the products Of
the soil within the vicinity OF the
place in which they live. The growth
of Memphis affects the price OF land
throughout the county, as is demon
strated by reference to the Oomptro.-
ler's report, which shows that land in
this county is worth twice as much as
land 10 adjacent counties. This
is 80 because the products of the soil
are in the neighborhood OF a market.
Now every railroad constructed into
Memphis up to this time has been
built in the interest of commerce, aud
they have made it the most prosperous
commercial city in the Southwest. On
the other hand, it must be admitted
that they have not succeeded in max
ing the city a manufacturing center.
There are two roads projected which,
in our opinion, will accomplish this
result. One is the Memphis, Birming-
ham and Atlantic, now in PROCESS OF
construction, and the oihsr is the Ten
nessee Midland. One OF these roads
will run directly to the coal and iron
fields of Alabama, and the other will
run directly to the coal and iron fields
Of Tennessee. The sources Of supply
are inexhaustible on both routes, and
the roads in this respect will compete
for the business OF Memphis. In ad-
dition to this the Tennessee Midland
will be the most direct route to an
abundant supply Of hard wood sit.
uated in the counties on the Tennessee
river, and to a never ending sup
ply of stone admirably adapted
10 building and paving purposes.
The completion Of these two roads
would bring about a new order of
things in the Buff City, and from that
time industrial pursuits wi | keep pace
with our mercantile pursuits When
this comes about it requires no prophet
to predict that Memphis will at ones
loom up as the great commercial and
manufacturing emporium OF the South
west. Land for manufacturing pul.
posts and sites for homes will be in
demand on every hand, aud the city
and country will enter on a permanent
boom. Now, if we believed that the
Tennessee Midland would be built
without local aid from the counties
along the line we would, as O matter
OF business, advise and vote against
Shelby county subscribing a dollar to
its capital stock. But we are in.
formed and have every reason to be-.
lieve that the present management
will not enter upon the construction
of the road unless the communities
along the line will make such sub.
scriptions as will practically have
the effect to relieve it from
taxation. These subscriptions taken
separately would seem small and in
81 sufficient to defeat a great enterprise,
but when taken collectively through.
out the length OF the State they
amount to a | rye sum and control the
direction of capital. The proposition
Is made to build the road on condition
the subscriptions are made. They are
by no means burdensome. The coun-
tY could subscribe $500, 900, payable in
its bonds bearing 8 per cent. interest.
and the taxpayer would feel no per-
ceptible difference in the taxes be
would have to pay. The railroad prop.
erty would yield in taxes substantially
what the county would have to pay in
interest. We submit that the advan-
tsges Of the road are 80 great and the
requirements made of the county are
30 small that people should not
hesitate as 10 the course to take. We
cannot afford to miss the opportunity.
II all the other counties in the State
except Shelby should respond the road
might be built, but We cannot afford
to take the chances. Memphis is
the western terminus of the road, and
the example of Shelby county will
necessari y have a marked effect on
other counties. There ia Importance
attached to her action Independent OF
the amount she is asked to subscribe.
Our belief in the great advantages OF
the road and It's immediate ard pros
pective effect on the growth Of Mem
phis, and the consequent increase in
the value Of real estate, is our excuse
for obtIuding our views on the pub
lie. We think the matter ought to be
discussed intelligently and dispassion-
ately from a business standpoint, and
that such action should be taken as
the interest of the county and city
demand.
OVERTON 4 GpOSVENOR,
MINTER PARKER,
X. W. RQYSTER 4 CO..